2017 Missouri Revised Statutes
Title XXVI TRADE AND COMMERCE
Chapter 403 Security Transfers by Fiduciaries
Section 403.270 Assignment by a fiduciary.
Effective 28 Aug 1959
Title XXVI TRADE AND COMMERCEChapter 403
403.270. Assignment by a fiduciary. — Except as otherwise provided in sections 403.250 to 403.350, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary:
(1) May assume without inquiry that the assignment, even though to the fiduciary himself or to his nominee, is within his authority and capacity and is not in breach of his fiduciary duties;
(2) May assume without inquiry that the fiduciary has complied with any controlling instrument and with the law of the jurisdiction governing the fiduciary relationship, including any law requiring the fiduciary to obtain court approval of the transfer; and
(3) Is not charged with notice of and is not bound to obtain or examine any court record or any recorded or unrecorded document relating to the fiduciary relationship or the assignment, even though the record or document is in its possession.
(L. 1959 S.B. 241 § 3)